This week we wanted to talk about retail – one of our favorite subjects.
Wasson Enterprise invests in retail businesses that have found the sweet spot between ecommerce and brick and mortar – we think this is the perfect space for retail to live.
In October, our founder Greg Wasson, spoke at the Brand Loyalty Congress about the importance of retail. And spoiler – Brick and Mortar played a big role!
Here are our three key beliefs that are critical for the future of brick and mortar:
Humans are social beings, so as a retailer you need to give them great (social) experiences through design, content, selection and services.
You must have unique products and services. The ability to begin to carry exclusive items will help drive traffic. But most importantly, for brick and mortar it is imperative to provide services to your customers. Added services can draw in foot traffic but also can increase brand awareness.
You must be where your customer is. An omni channel solution is not a nice to have, it is a need to have. As, you have seen we are very passionate about the role brick and mortar plays, but we are not naive. You need to be where your customers are – and your customers will come through mobile, through social channels and through ecommerce platforms. You need to be there for them.